Reasons Why E-commerce Businesses Should Pay Off Their Debt

Almost 80 percent of the e-commerce businesses fail, according to experts. As soon as you see that your e-commerce business is free from all kinds of debt, your business is going to climb for success. It is obvious that in order to start a business, you are going to require capital. And for this, you have to take loans from either the financial institutions, or you have to opt for other methods of getting loans. No matter which kinds of methods you decide to select, it is important to pay all your debt off according to the time that has been provided. It has been observed that a number of businesses fail to pay their debts because they do not receive any motivation to clear them. As soon as you see that your business is getting returns, you should concentrate on clearing the debts first. The sooner you are able to clear your debt, the faster you will be able to enjoy the returns from your business.

Given below is a list of the reasons as to why you should clear off your debt as fast as possible.

Increases the financial security

Debt is considered to be a huge threat to the financial security of your e-commerce business as it prevents your business from making as well as saving money. The money that you are spending for clearing off your debts could have been used for a better investment for your business. However, this is not going to be a big problem because as soon as you clear all your debt, you can start saving and investing on making your business one of the best in the entire competitive market. As soon as you become free from all the debts, you can start working towards making the e-commerce business financially secure.

Reduces stress

For starting your business from a scratch, it is obvious that you have taken a huge amount of loan. Most of the e-commerce business owners are also worried if their business is going to make enough sales, which will help them to clear all the debts. Right at the beginning of your business, it may not be possible to determine how good you are performing and the sales that you are getting back.

As time passes, the return that you are getting has to be used for clearing all the debts. Until and unless you can clear the withstanding debts, it becomes extremely stressful to carry on. It has also been observed that a number of businesses fail within a few years because they are unable to pay back to the financial institutions from which they have taken the loans. Paying all your debt makes you stress-free.

Reduces the bills that you have to pay

When you have to pay to more than one financial institution, it is your duty to keep a track of all these payments until all of them are clear. As soon as your business becomes free from the debts, you will have fewer expenses and also, you will be able to easily invest for your business without having to worry about clearing the debts.

In order to clear all your debts as soon as you can, it is extremely important to pay a lump sum amount of money for one particular debt and keep paying a minimum for the rest of the debts. This will help you to clear off all the debts, one by one.

Improving the credit score

If you have a lot of debt, it is responsible for having a bad impact on the credit score. When the balances of the credit card are high in comparison to the credit limit, it is obvious that the credit score is going to take a hit. This similar thing is applied when the loan balance is extremely high in comparison to the amount that has been originally borrowed. When you are free from all the withstanding business debts, you can easily raise the credit score. You can go through the debt consolidation loan honest reviews to know more about how debt consolidation works.

Owning the assets

It has been observed that a number of e-commerce business owners take loans against their property, for allowing their businesses to take off successfully. You need to understand that when you are having a mortgage, you are not the owner of your properties; instead, the financial institution from where you have taken the loan is the actual owner.

If you are not able to clear debts within the due time, it is obvious that you have to leave your properties as you lose ownership. However, clearing the debt clearly means that you are getting back your property, and the ownership also goes back to you. You will not have to worry about parting with your personal property, just because you couldn’t clear off the debts.

Increasing the future earnings

You are a business owner and it is in your hands to increase your earnings by providing creative products or services to your customers. You need to promote your e-commerce business with the help of your social media accounts or your business website, in order to gain more customers. You have to have a proper knowledge about your potential customers and the things that they are looking for constantly. On basis of that, you have to attract the attention of the customers and stand out in the competitive market.

As soon as you start gaining customers, you can be assured that your revenue is also going to increase automatically. The more your e-commerce business earns, the more you will be able to save for the future business prospects. Furthermore, you will also be able to clear the debts faster than you could have imagined. Ensure that you impress both your present and potential customers to such an extent that they do not leave your business at all.

Conclusion

Paying off all your debt within a short period of time is not possible practically, but eventually, you should work towards clearing it, especially if you do not want your business to fail miserably. Start clearing your debts as soon as the sales increases and you will be free from the debts.

Funds for an Entrepreneur- An Inside Story

Without adequate money, the commerce machine will not work. It acts as the fuel and lubricant. The funds will make it possible for smooth marketing, production and design of a product along with making the administrative functions useful. It is money that moves forward a company by fueling its growth and expansion. The revenues supply a lot of money required yet often revenues are reasonable. Months pass with lean revenues which affect the company’s operations. It is here where funding can help.

Importance of Funds for a Business

What is vital for a business? What does the business owner pride himself on? And what is their company policy foundation? For every business, the world over this can be different. Each business will possess various factors and motivations which keep them moving forward along with dictating their goals and aims in business. Some businesses are non-profit, and they aim to reinventing any profit returned to the company and/or donated towards a good cause. Some businesses will focus largely on customer services thereby making the customer the hub of all that they do.

The truth is there are many things which can turn into a businesses’ foundation, and everything is valid. But one should not fool himself. One factor which stands above all when it comes to business is money or funds. Without money, no business can survive. Though money will not be a motivating feature behind each decision which a business makes yet it possesses a big place of significance in business. A business simply put cannot do anything,and moreover it will fail in the absence of money. This indeed is the bottom line which means money for a business is everything. It is like one’s finances, if they lack money, they can borrow a little, use the credit card or take a loan but if they continue building up debt, this can turn overwhelming.

The creditors will keep chasing the person. If they fail in paying their debt, they will need to dissolve their account and declare bankruptcy. It applies to business as well. An endless pool of funds is available that a company can make the most of. Contact Liberty Lending to know more about funding.

The Change in Financial Trend

Once upon a time, most people failed to get financial assistance from any money lender or bank. But of late there has been a change in the financial trend. People have the flexibility of availing financial aid from finance companies. Now the question is where lies the source? Yes, of course, banks and credit unions play a significant role, but it is the finance companies that are the best bet. They offer loans to entrepreneurs and start-ups. These days homemakers too are not behind. They are establishing their business via the cottage industry. Females by nature are extremely skillful. They are good at making pickles at home, stitching or may even start a beauty parlor and with funding options being readily available things have become more streamlined.

Funding Options for Business- Tips to Choose

With regards to securing funds for a business, today a couple of avenues are available which an entrepreneur can take into consideration. Usually the business’s type and scale influence the funding needs together with one’s business objectives. Take a look at the various funding options which a company can consider,

  • Small Business Loans- An entrepreneur can apply for this form of funding to avail money for their business. Before applying one needs to check the eligibility criteria of a small business loan carefully. It is vital to compare the rates of interest from different lenders before taking a decision. Usually, this loan is collateral-free for business which has a turnover and a stipulated age among other factors.
  • Venture Capital- This form of fund generally invests in businesses seeking exists during IPOs or acquisitions. Usually, it takes equity and offers guidance and mentorship. The venture capital will aid a company that is generating ample revenues and desires to attain the following level of growth. This form of funding possesses shorter time frames to recover the investment.
  • Crowd Funding- This has turned into a highly preferred funding channel especially in case of a start-up. The entrepreneur will provide descriptions related to his company, plans, expected profits, and future goals. He can generate the funding from different people through shares or donations. Crowdfunding will help to create more awareness concerning their business.
  • Bootstrapping– this is personally funding a business. An entrepreneur from his savings/income may invest and raise funds from friends and acquaintances. There are costs, formalities and lesser regulations involved thereby making it an ideal first funding source for business.
  • Angel Investment- The angel investors have surplus funds as well as interest in pumping the same in the upcoming business. Such investors work through different networks for finalizing the finest proposals from entrepreneurs.
  • Start-up Accelerators and Incubators- Today there are many incubator programs and start-up accelerators that can aid to raise funds for a business. The incubator will nurture the company and accelerators will assist in expansion. It includes programs having networking and fixed time periods, and the mentorship opportunities too are available readily.
  • Government Schemes- Start-up funds have been launched, and there are several schemes accessible for entrepreneurs and start-ups. The moment a business plan gets approved it will result in the sanction of the loans that the business can use for purchasing materials or meeting the other expenditures. It will act as a credit card. Different states have different programs.

A business that does not have a source of funding will flounder for sure under its own debt’s weight. Funding as mentioned above acts as the fuel that helps the business to run. Any business can take various avenues for attaining funds and can use more than one choice. The funds selected will depend on the desire of the business in debt, how much solvent the entrepreneur is during the formation of the business and the amount the company will require for launching and maintaining itself through the different events.

Common Debt Consolidation Mistakes Made by Business Ventures

It has been observed that a number of businesses are suffering from financial problems and they find it extremely difficult to live within the means because of the huge accumulated debts that they have. You can also be one among them and instead of being in this sinking boat, when you are finding it extremely difficult to clear all the withstanding debts, you can be assured that a debt consolidation loan is certainly one of the best options which can solve the financial crisis. In order to ensure that your business does not go bankrupt, debt consolidation loans are exactly what you require. The consolidated loan is going to have a low rate of interest and can repay all the withstanding debts. Instead of juggling with a number of loans as well as the outstanding bills, only one principal and interest has to be cleared monthly. However, most of the business owners tend to rush to the financial institutions that offer debt consolidation loans, and they make a number of mistakes.

Before going for a debt consolidation loan, it is crucial that you have a proper understanding of all the mistakes that should be avoided. Given below is a list of the mistakes that you need to know about.

Your debt is not going to disappear

Many business owners have the idea that when they are opting for a debt consolidation loan, the entire debt is going to disappear. However, it is important to understand that a debt consolidation loan does not take your business off the leash of debt. It is only a financial tool that helps you to restructure your finances and makes it easier to manage the debt. This mistake has made a number of business owners use their credit cards despite having huge debts, only because they consolidated their loans. In order to avoid getting back to this trap, you should close or cut out the credit cards. A lower limit should be kept on the necessary card so that it can be swiped only during emergency situations.

Picking a wrong management program for your withstanding debts

You have to understand that debt consolidation is not the only debt relief option that you have. As a business owner, you should have a sound knowledge of all the other options as well, which is often overwhelming. The options that you should know include debt settlement, credit counseling, default, and bankruptcy, which you can consider as well. All of them are known to have different functions and you can select one on basis of the requirements that your business has. However, if you think that debt consolidation is appropriate for you, you can definitely choose it without any doubt. With a debt consolidation loan, your old debts are going to be repaid, and you will be left with a single one. Businesses that pay a minimum amount are doubling their debts. According to http://www.huffingtonpost.com, if the credit card debt that you have is 15,000 dollars, and the rate of interest is 17%, paying 250 dollars each month means that you are going to take many years to pay off the entire debt.

Paying a lot of money

You will obviously have to pay a lot of money if you are not taking the time to conduct a proper research. There are numerous options and diverse providers of the debt consolidation services. When you take the time to conduct a research and have a discussion with the financial professionals, you will see that you are paying less in comparison to what the other businesses are paying. This includes fewer fees, principal, and a monthly rate of repaying the money, as well as interest. You should not go for the very first name that you come across because that is not a good or wise strategy. You should take time shopping around.

Falling in the hands of scam

There are a number of predators on the market, who are waiting to pounce on you as soon as you opt for their service. You need to understand that debt consolidation is among those debt relief programs, which is currently selling like a hot cake. However, you should be careful about avoiding the salespersons that force your business to sign up for the services that they provide without researching or thinking about the services. It is true that the rates can appear extremely affordable, but chances are that there will be certain costs, which will not be included within the packages, but extra charges will be deducted from the monthly amount that you have to pay. In order to know more about debt consolidation, you can visit nationaldebtreliefprograms.com.

Failing to stick to this program

When you decide to consolidate your debt, it definitely does not include the freedom of not paying the money as expected. This is going to have a negative impact on the credit score to a great extent and the financial institutions as well as the banks do not forget this ever. If you are signing up for a debt consolidation company, you have to take time and plan the resources in a proper manner in order to make sure that you are completing the entire program. In order to avoid dropping your plan, you need to conduct a proper research on both the advantages as well as the disadvantages that are associated with a debt consolidation program. Make sure that you are completely eligible for debt consolidation before you sign up.

Failure of addressing your problem

You need to understand that you have to withstand debts not because you have woken up and realized that you are in debt. You have to acknowledge the fact that you have debt because the financial decisions that have been made by you are extremely poor. The first and most significant thing that you have to keep in mind is to change the spending habits that you have. It is understandable that you have to spend money on various aspects of your business, but this definitely does not mean that you will spend without understanding how much you have to save.

Consolidating the debts that are wrong

It is true that debt consolidation is an extremely attractive program and it is perfect for paying off the loans of high interest. You should be careful that you are consolidating the debts of high interest first and later on, you should concentrate on consolidating the loans of low interest.

Conclusion

Making a mistake can lead to numerous troubles which is something that you definitely do not want for your business. This is why it is important that you go through all the mistakes that have been listed before you choose a debt consolidation loan.

Workplace Safety Standards: What HR Needs to Know

There are many risks in workplaces that can present a serious danger to the well-being of employees. Even in seemingly low-risk positions, these can seriously impact a business, and a serious incident can potentially shutter operations entirely.

According to the International Organization for Standardization, “more than 2.3 million people die each year as a result of workplace injuries and disease.” This doesn’t count the millions of people who sustain non-fatal injuries at work. That being said, workplace safety is important for all employees. Every employee deserves to work in a safe and protected environment — one that reduces costs to the organization and improves safety in the long run.

While most job industries have safety risks, management and HR should devote more time making their work environment safer for everyone. In order to do so, however, both parties need to prioritize employees and take steps that benefit them. This will not only help improve the work environment, but it will also help improve safety standards as well. With that in mind, here are three things company leaders and HR personnel need to keep in mind while developing safety standards:

Recognizing Potential Dangers

When it comes to recognizing the potential dangers ahead of time, it’s important for HR staff to think outside the box. That’s because every industry has potential dangers. Here are a few examples:

  • In the food industry, there’s always the possibility of foodborne illness reaching the public, and in order to prevent this from happening, HR needs to equip kitchen staff members with the right tools. This includes things like stainless steel appliances, cleaning supplies, and proper hygiene standards. These all help limit the growth of bacteria found in kitchen environments.
  • In office work environments, there are many potential risks. In office areas with many workers, walking paths should be cleared of obstructions in order to prevent slip and fall accidents. Further, being physically near many coworkers can make it easier for the flu to spread, which may necessitate sanitation supplies and health advisories.
  • In healthcare facilities, HR must take steps to protect both patients and employees. In addition to the hygiene concerns mentioned above, they must provide a safe work environment by soliciting employees for feedback and listening to workplace complaints concerning potential ethics violations. Everyone needs to be on board; according to Regis College, “full organizational participation — from executives, managers and all staff members — remains the most important factor in upholding a highly ethical workplace culture.”

Another thing that could cause havoc in the workplace is something most people don’t even pay attention to is plumbing. Having access to high-quality water is important, and the last thing you want your employees to do is to drink contaminated water, which could result in illness, lawsuits, and a bad reputation. That being said, HR should ensure that the pipes holding the water aren’t contaminating drinking fountains. By making sure these things are taken care of, HR personnel can provide a safe work environment for employees and guests.

Keeping the Workplace Free of Allergens

Sneezing, wheezing, and watery eyes can leave any employee unfit for work. That’s because nearly 75 percent of all allergy symptoms affect the victim’s eyes. For some jobs, there are environmental triggers that can cause employees to feel discomfort and make it hard to breathe. Look for triggers like:

  • Chemical fumes
  • Cigarette smoke
  • Fragrances
  • Dust
  • Pets

Allergic reactions can make any work environment unpleasant. For HR representatives, making sure the work environment is well ventilated and has a sufficient amount of humidity is extremely important — especially since doing so can reduce the chances of mold. Dusting the workstation regularly may also help.

Closing open windows to eliminate excess pollen, utilizing humidifier, getting HVAC systems regularly cleaned/replaced, establishing a no-pet policy, and checking for food allergies before potlucks can also make the workplace safer for employees. Although some employees may still experience allergies, workplace accidents should cease to exist as long as you take steps to prevent it.

Common Workplace Accidents & Safety Tips

Generally speaking, when people hear the phrase “workers’ compensation,” they typically envision heavy machinery, employees being exposed to harsh chemicals, or potential hazards around every corner. Truthfully, a work-related injury can happen at any time, even from behind a desk. As noted above, slip and fall accidents are a serious concern. When it comes to office jobs, slip, trips and falls account over 30 percent of all personal injuries.

So, what’s something that can cause employees to slip? Any area that has a wet or oily surface can cause employees to slip and fall. This might include break rooms, door entrances, and restrooms. The weather should also be taken into consideration. In other words, if it’s wet outside from either rain or snow, floor mats should be placed near door areas to prevent employees from falling.

What causes employees to trip? A trip may occur when an employee’s view is obstructed. Poor lighting, blocked or cluttered areas, uncovered cables, wrinkled rugs, and uneven walking surfaces may all contribute to an employee falling over. Luckily, these things can be avoided by making sure that work areas are clean, walking surfaces are even, employees are wearing proper shoes, and staff members are paying attention to where they’re going. Employees should also be encouraged to report dangerous (cluttered, obstructed, or damaged) areas to HR. That way, other employees are aware of the situation.

Conclusion

Regardless of the industry, safety should always come first, and it’s up to HR to get employees to contribute to improving workplace safety efforts. This can be done by encouraging employees to become actively involved. If employees are curious, share workplace injury statistics with them. This will help put things into perspective and demonstrate just how serious these events are, no matter the job type. Lastly, be sure to provide some sort of incentive that rewards them for showing great workplace safety behavior.

Top 5 Reasons to Start an Employee Wellness Program

Not sure if you should start an employee wellness program? Here are the top 5 reasons why employee wellness programs are becoming more and more popular!

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Employee wellness programs benefits

There are some obvious benefits of employee wellness programs. Helping your employees stay healthy is great – for them. But how about your company? Is it just a waste of your time and resources? Or are there some tangible benefits for your company as well?

Let’s dig into the research and found out!

Top 5 reasons to have an employee wellness program

Here are the top reasons why you should start an employee wellness program at your company:

1. To save money

Implementing a workplace wellness program can help your company save money.

The most comprehensive review ever completed on the financial impact of worksite wellness programs has reported some incredible findings.

Among the 22 different studies that looked at wellness programs and healthcare costs, the average return on investment was 3.27. This means that for every dollar that was spent on the program the company saved $3.27 because of reduced healthcare costs!

2. To improve employee productivity

Research has found that employee wellness programs have a positive effect on employee productivity.

Research published in the Journal of Occupational and Environmental Medicine has found that employees who take part in employee wellness programs are more productive than those who don’t.

3. To improve the retention rate

Companies who implemented employee wellness programs report higher retention rates.

Research conducted by an American Psychological Association has found that fewer (only 25%) employees in companies with employee wellness programs intend to leave their job in the next year. In companies without employee wellness programs, twice as more employees (51%) said they intend to leave their job in the following year.

4. To attract top talent

Research has found that implementing an employee wellness program improves your employer brand and helps you attract great candidates:

  • The Virgin HealthMiles and Workforce survey found that 87% of employees said they consider health and wellness offerings when choosing an employer.

5. To improve your company culture

  • A survey by Virgin HealthMiles Inc. and Workforce Management Magazine found that an overwhelming 77% of employees think that employee wellness programs positively impact the company culture.

Conclusion

Research is clear: Keeping your employees healthy is not just good for your employees, it’s also good for your company’s bottom line!

How Machine Learning Is Improving Customer Service

Efficient customer service is crucial to the success of client-facing businesses. The $350 billion industry has transformed over the last couple of decades with the mass adoption of the internet and social media, taking the customer service channels for many businesses online. Although the increased connectivity provided by technology has helped facilitate customer service processes, it has also increased customer expectations.

To keep up with these expectations, businesses are finding ways to implement machine learning into their customer service processes in hopes of efficiently handling as many customer inquiries as possible.

Customer Service Needs

Although the internet can often provide answers to almost any question a customer could have, customers more comfortable speaking directly with a person will often reach out to customer service agents. This frequently results in customer service representatives spending large amounts of time answering very basic queries, which can be monotonous and frustrating for agents. To reduce the need for customer service reps to answer these types of questions, businesses have been using AI to offer answers for basic questions before transferring clients to a customer service agent.

This is done both on the phone and online through the use of chatbots that are often employed on a business’ website and Facebook page. Over the phone, automated recordings help navigate customer calls by asking questions that the AI will either be able to answer or transferring their call to the proper department.

Online, chatbots have become a huge resource for businesses to attain customer information, gather feedback, and provide customers with quick responses to standard questions. The use of chatbots and other forms of AI is expected to help businesses manage 85 percent of their relationships with customers by 2020.

Machine learning also facilitates security processes for businesses that handle sensitive customer information. In the past, customers have been required to verify their identity by providing personal information, a process that could take many minutes, especially if a customer forgot their answers to security questions.

However, many businesses are now using two-factor authentication to verify customer identity during customer service calls. This involves verifying two pieces of information: a security question, followed by phone verification. Customer service agents will use machine learning to send a code to the phone number on file with the company, and once a customer verifies they received the code, their identity is confirmed. This approach has improved security measures and can be completed quickly.

Growing Use of Tech in Customer Service

Overall, the use of AI in customer service has increased job satisfaction for customer service agents, as well as help businesses keep up with customer expectations. Businesses need to constantly look for ways to improve customer service. One of the results of implementing AI to help facilitate customer service has been giving customer service agents more time to handle complicated customer inquiries. Increased job satisfaction for customer service representatives and reduced call volume provides them with a greater opportunity to dedicate time and empathy to customers who need a human touch for their inquiries.

As more businesses use machine learning to automate routine tasks and data entry during customer service calls, call time should be reduced, leading to an increase in customer satisfaction. Currently, in a typical six-minute customer service call, 75 percent of that time is devoted to agents doing manual research. Only 25 percent of call time is spent interacting with the customer. AI can streamline this process by memorizing customer information and creating easier routes to accomplish tasks online.

This also provides customer service agents with more time to do important customer service work online, such as responding to customer reviews, which has become a high priority for businesses over the last few years.

As more customers go online to offer feedback or complain about poor experiences with companies, the need to moderate reviews and comments has grown. In the internet age, 88 percent of consumers trust online reviews as much as personal recommendations. Therefore, if a business receives many reviews, they must dedicate resources to responding to them. This will increase customer trust in a business, as well as its ranking with Google.

As more businesses implement AI, machine learning will become the standard for customer service expectations. Although the impact AI will have on jobs within the customer service industry is unclear, the new and rapidly advancing technology will soon provide efficient customer service to consumers looking for help. AI will also help improve the job environment for customer service representatives and open the door for better customer service and increased customer satisfaction. With the implementation of machine learning, the future of customer service looks to be promising.

How to Create a Modern and Stylish Aesthetic for Your Brand

Branding is all about the impression you give to your customers and clients. The question becomes, what kind of impression do you want to give them? Regardless of the type of business you have, presenting a professional atmosphere that is still welcoming and comforting is essential, yet you want to be on the edge of business innovation as well. You want your brand to be memorable, but you want to be remembered by the right reasons. A modern and stylish aesthetic can help you appeal to a variety of customers, from millennials to baby boomers.

However, this can be a challenge. If you are in an older office building or have limited resources, changing the aesthetic of your brand can seem like a huge task. It is often difficult to determine where to start. Here are some tips on how to create a modern and stylish aesthetic for your brand:

Work From the Outside In

The first impression customers and clients have of your brand at your physical location is the outside appearance. There is often little you can do about this when it comes to the building you are in, but there are some touches you can improve on to make your brand more appealing.

  • Your Sign and Logo: Your sign and logo may be outdated. If you have not changed them in a while, give them a fresh look. You can even get a logo created by artificial intelligence if you really want to be hip.
  • Your Door: Even if you are inside a building, you might not have much choice about certain parts of the decor, but you can install a new door for your business, or add a window decal or other touches to make a better first impression.
  • Window Coverings: If your windows are visible from outside or even the hallway, consider updating your window coverings to ones that give a more modern and stylish look. Don’t forget color and the impression it makes on clients.

The first impression customers or clients get of your business is the outside, and no matter what your limitations are in your commercial building, you can work to make a better first impression and make your brand modern and stylish from the outside in.

Remodel the Interior of Your Business

Once customers enter your business, they get an entirely different perspective. The atmosphere of your business is set right away. This involves everything from color to the way you use your space. Want a more modern and stylish aesthetic? Here are some simple tips:

 

  • Color: You should never overlook the psychology of color when decorating your office or any other space. Color has a certain effect on customers and clients, and knowing how that relates to your aesthetic is truly important. Throw pillows, window coverings, and even the color of your furniture and lampshades make a huge difference.
  • Lighting: Harsh, fluorescent lights are common in buildings and office spaces, yet they are often hard on your employees’ eyes and give your clients and customers a very flat impression. Add modern lamps, light fixtures, and other unique lighting wherever you can.
  • Furniture: Older tables and chairs, especially ones that are outdated or worn give a negative impression. Don’t forget comfort though. Form and function are both important when it comes to furniture.
  • Creature Comforts: Things like a modern fireplace when it is cold or a stylish bladeless fan when it is warm give your office a modern and sleek look, but also ensure that your customers, clients, and employees are comfortable.

There are other things you can do to improve the atmosphere as well. Smart furniture often includes USB plugins for charging phones and other features, and installing devices like Alexa or the Apple Home Pod to allow your smart furniture to be voice controlled is a great idea.

Your employees will love smart desks that can show them calendar alerts, phone messages, and even remind them to stand and walk around. The interior of your business and the comfort of your employees, customers, and clients is one of the best investments you can make to create a modern and stylish aesthetic for your brand.

Improve the Look of Your Employees

There are two ways to control the look of your employees: One is to have uniforms, and the other is to have a dress code. Uniforms, if opted for, should be fun, stylish and updated frequently as fashion changes. Adding fun accessories like colorful ties and hip and stylish suspenders can help you attract and keep new customers.

Even if you don’t have uniforms, a well-defined dress code can keep all of your employees on the same page and create an innovative culture that will also attract the right customers and clients. This can mean including brands in your dress code, specific colors, and the type and style of clothing that is acceptable.

Many companies offer employees a clothing allowance to ensure employees can be in compliance regardless of their financial situation. Improving the look of your employees is another great way to create a modern and stylish aesthetic for your brand.

We all want our company to be as hip as Google or as fun a place to work as Facebook. We want new customers and clients from millennials to baby boomers to be impressed by us. To accomplish this, making your brand aesthetic modern and stylish is essential.

5 Workplace Wellness Statistics You Should Know About

Workplace wellness programs: Yay or nay? Discover the data-based answer!

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Workplace wellness programs: A growing workplace trend

Workplace wellness programs are getting more and more popular. This new workplace trend has gained a lot of attention recently and stirred quite a debate.

Some argue that companies should not be burdened by taking care of their employees’ health. On the other hand, there are voices arguing that in today’s modern world, these programs are becoming a necessity.

Above all, there are questions about the effectiveness and ROI of these programs. To answer these questions, we dug deep into research.

Top 5 workplace wellness statistics

Workplace wellness statistic #1

According to research conducted by the Society for Human Resource Management, 75% of employers indicated that their companies offered some type of a wellness program, resource or service to employees.

Workplace wellness statistic #2

A comprehensive review of the literature has found that the average return on investment of workplace wellness programs is 3.27. This means that for every dollar that was spent on the program the company saved $3.27 because of reduced healthcare costs.

Workplace wellness statistic #3

A new survey by Virgin HealthMiles Inc. and Workforce Management Magazine found that an overwhelming 77% of employees think that employee wellness programs positively impact the company culture.

Workplace wellness statistic #4

Research suggests that employers save on average $5.82 in lower absenteeism costs for every dollar spent on employee wellness programs.

Workplace wellness statistic #5

The Virgin HealthMiles/Workforce survey found that about 87% of employees said they consider health and wellness offerings when choosing an employer.

Conclusion

Research has shown that workplace wellness programs have proven benefits, both for employers and employees. Employee wellness programs can do much more than just keep your employees healthy.

These programs can help you improve your company culture, reduce absenteeism, attract talent and even save money!

 

Trying To Sell A Business With Debt Before Going Through Settlement Procedure

Some of the small business owners in the USA might have accumulated some commercial debt over the past time. Whenever a business opens up first, the debt will start to work out high because the owner is the one to must pay for the available startup costs revolving around the business. Business debt is quite typically stated to be in form of some bank loans, business credit cards and even following the idea of business lines of credit. Bank loan is always stated to be a form of loan, which the company will always look for at first for building a business.

After that when the company has been in operation for a period of 2 years and has proper annual reports it will state the profit for business. This point will make it all the more eligible for business line of credits and business credit cards. These major forms of debts are widely used for expanding business with more inventory, advertising, real estate, unforeseen expenses and so much more over here. If you don’t have any clue regarding that, then log online and get some help now. Pros are here to offer you withdebt settlement reviews, which will help you, understand the complexity of businesses, trying to sell their working station with debt in mind.

More towards the art of profitable business:

No matter whatever niche or industry you are in, the profitable business is one where the annual revenue is always going to be higher than annual expenses. In case, the business over here is ready to have more annual expenses than the annual revenue after few years down the lane, then it is always likely to get the business failing for some more reason.

It is then time for the owner of the business to make way for the critical choice as per the future statement of the firm over here. They can always sell the company right at cheaper price with the current business debt associated to it. Or they might even sell company for such a greater price and use the same proceeding to pay off debt before even the ownership is transferred right to the said buyer.

Things that might happen to the debt:

So, you have already made plans to actually sell the company even when it has debt written on it completely. So, the next step over here is to check what will happen to the debt, when you plan to sell the company to another name within the same business niche. In most of the cases, the owner will be the one to sell the business with a current debt well attached to it.

  • Even though the debt might prove to be a bit high, buyers are also quite interested in just purchasing business as they are likely to get it for a rather discounted price.
  • It will provide the buyers all sorts of opportunities to just procure ownership of that business quickly, with the major hopes of turning it just around and making it all the more profitable that it was before.
  • If they are able to do it and once the deed is done, they can always make use of the profits for making the rightful payments towards existing debt of the firm.
  • Now, in terms for the seller, they are rather happy to get the chance to sell their businesses with debt right attached to it as they can cash out of business while just leaving behind all the responsibilities of running around and paying up for the debt they are in.
  • Well, this story is rather good to see but cannot always prove to be true. It solely depends on the kind of sale you have arranged for between the buyer and the owner of the said business in question.

Trying to sell shares versus assets:

There are times when larger businesses with stock shares traded on public market might want to sell business through a platform called Stock Purchase Agreement. Here, instead of the buyer just getting a check for agreed purchase price, the seller will have to transfer a major number of the firm’s shares under the buyer’s name, which is equivalent to the price of the purchase made.

Whenever the buyer gets the ownership in question, they will eventually own most of the company and can make some of the executive decisions as the owner. But, they are also stated to be held responsible for all debt and liabilities that the company has right now. At the end of it all, the truth is that business debt will not stick to person but rather to company itself. So, anyone planning to own the company will be held accountable for debt.

Focusing on the small business owners:

Then you have the smaller business owners, who do not have any option of just selling their companies through any of the stock purchase agreement as most of them are here with private companies that are not traded on any of the public market.

  • It means that if the smaller business owner is making any plan for selling the firm then they are going to do it through asset sale arrangement.
  • These forms of sales are always going to vary depending on assets and liabilities number which will get transferred to the said buyer.
  • In some of the cases, the buyer is not here to purchase the entire business but will add some of assets which the company gets to own and sometimes with a percentage of the accounts as made receivable.

On the other hand, you have the seller to retain percentage of the accounts as receivable and any current debt under the company’s name. The same exact agreements of the current asset sakes arrangements are made different from seller is usually the one for keeping most of liabilities while buyer receive most of assets and accounts. You get to learn more about that from reliable centers now.

The Appropriate Guide for Conserving the Flow of Cash in Your Startup Business

A business debt consolidation loan is responsible for helping you to take one particular business loan for clearing off numerous small business loans. If it is used in a wise manner, a debt consolidation loan can help in covering the repayment of the business loans that already exist and also reduce the frequency of the scheduled payments. Out of the total businesses, which are established, 50% fail because the funding options are limited, http://www.entrepreneur.com has stated.

A debt consolidation loan is responsible for making the process of clearing the loans extremely manageable as well as highly affordable. As the owner of a startup business, it is your responsibility to understand how a business debt consolidation loan is going to work and if it is going to be the ideal solution for the business.

Working of the business debt consolidation loans

A business debt consolidation loan is for the owners of the startup businesses, who are constantly struggling with the different repayment schedules for the multiple loans that they have taken for their business. Getting hold of the business debt consolidation loan is going to assist in converting the multiple accounts as well as payments into one single loan product, along with the predictable rate of interest as well as a great payment schedule.

It is extremely hectic to remember the due dates of the different loan payments and it is even more stressful to worry whether you have the necessary cash for covering the cost. With the help of a debt consolidation loan, you will be able to control the cash flow of your business, as you are going to track a single and predictable payment. Instead of remembering the different due dates of the loan payments, it is a smarter idea to opt for business debt consolidation loans.

Most of the business owners also tend to confuse between refinancing and debt consolidation. Though they are similar, you have to understand that they are not the same.

Investments: If you are a business and thinking about the Investments, You can get the overview from ICOTOPLIST and check the recommendations.

Refinancing: The borrower is responsible for taking out new loans at low rates of interest in order to clear a loan of a high rate of interest.

Debt consolidation: The borrower will be taking out a new loan for clearing the already existing loans.

It is true that debt consolidation is definitely one form of loan refinancing, but you cannot deny the fact that all refinancing is not debt consolidation. If you are replacing a business loan for a completely new loan at a low rate of interest, it is known as refinancing, but you cannot call it debt consolidation. Debt consolidation is responsible for converting the multiples loans into a single loan.

Additionally, debt consolidation is not always responsible for low-interest rates. Ideally, a business debt consolidation loan is going to save a lot of money, but the primary focus of this kind of a loan is to make the payments manageable, by replacing different lenders with a single lender. This can help you to get a much better rate of interest. This is one of the main reasons as to why you need to be extremely smart as a borrower, and ensure that you are working with reputable lenders, performing your research, and also checking the calculations numerous times. You need to ensure that consolidating the debt is going to be ideal for your startup business. To know more, you can go through nationaldebtrelief.com.

Steps for successful debt consolidation

When you are applying for the debt consolidation loan for your startup business, you need to consider the simple steps that have been mentioned below.

Identify the current debts: You need to consider the existing loans of your business along with the details associated with each. You have to take into consideration the outstanding loan amount, the rate of interest, the lender, the date of maturity, and most importantly, the schedule of the payment.

Check if the loans have any prepayment penalty: You need to remember that when you are opting for a debt consolidation loan, you will get one business loan for clearing off the other business loans. Paying the small loans before the maturity date can be responsible for triggering the prepayment penalties.

Determine the business debt that you are interested in consolidating: Once the complete details of the loans along with the prepayment penalties are available to you, you need to have knowledge about the loans that you are interested in combining into one large loan. This is going to help you a lot when you are consolidating your business debts.

Calculating the total area of the loan products and taking the average: It is obvious that you will need to have knowledge about the APR of the existing loans so that you have proper knowledge about the interest rate that the new loan is going to beat. It is not similar to the rate of interest, but it is the annual interest of a particular loan, which includes the fees, and provides the honest assessment that is associated with the cost of the same loan.

Look for the new debt consolidation loans: It is also important to visit local banks, checking the online lenders, and understanding what you are going to qualify for. This will help you to understand all the loan options that you have for your business.

Making easy and timely payments: After all the above steps have been followed, you are going to get your new debt consolidation loan. It is crucial that you maintain a proper relationship with your lender and avoid the fees, by ensuring that you are making the payments on proper time.

If you are following all these steps, it is going to be easier for you to take an informed and educated decision about whether the business is going to benefit from the debt consolidation loan.

Conclusion

It is completely up to you whether you want to go for debt consolidation or you are interested in trying any other debt relief option. However, ensure that you are keeping everything that has been mentioned above on your mind so that it becomes easy for you to take an educated decision.